MHI and AREVA create ATMEA

MHI and AREVA create ATMEA

September 03, 2007

New Joint Venture Aimed at Launching Advanced Generation 3 Reactor.

Kazuo Tsukuda, President of Mitsubishi Heavy Industries, Ltd. (MHI), and Anne Lauvergeon, Chief Executive Officer of AREVA, today announced the name of their companies’ newly formed joint venture: ATMEA. ATMEA will develop, market, license and sell ATMEA 1, a new 1,100 MWe reactor combining innovative and proven nuclear technologies of both AREVA and MHI.

Since October 2006, MHI and AREVA have been working together to define the conceptual basis for an advanced generation 3 reactor with power around 1,100 MWe. As leading nuclear suppliers, MHI and AREVA together have over 40,000 nuclear employees in the U.S., Japan and Europe. The two companies also benefit from a sound industrial base, including large manufacturing facilities in Japan and France. This in-house production capacity, an asset in view of the nuclear market’s rapid growth projections, guarantees high manufacturing reliability throughout the entire ATMEA 1 project.

The ATMEA 1 is to be a pressurized water reactor. It will offer operators solid Gen 3 safety features and optimal return on investment through its very high availability. To address the needs of a fast-growing nuclear market, the partners are jointly working to have the ATMEA 1 reactor ready for licensing application in less than 3 years.Located in Paris, the joint venture will benefit from the most experienced resources of both AREVA and MHI. Mr. Stefan vom Scheidt has been appointed ATMEA’s CEO, Mr. Makoto Kanda his deputy.

“By founding ATMEA, we combine the experience of two leaders in reactor development, construction, licensing and marketing. We thus provide the ideal framework for the development and sale of a reactor whose size fits into almost every grid”, stated Anne Lauvergeon.

Kazuo Tsukuda noted, “By bringing together the state-of-the-art technologies of both companies, we are confident that ATMEA 1 will be the leading plant in the mid-size reactor range, and will be successful in attracting interest from our clients.”